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XMMO vs. DFEN.DE
Performance
Return for Risk
Dividends
Drawdowns
Volatility

XMMO vs. DFEN.DE

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco S&P MidCap Momentum ETF (XMMO) and VanEck Defense UCITS ETF A (DFEN.DE).

XMMO and DFEN.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XMMO is a passively managed fund by Invesco that tracks the performance of the S&P MidCap 400 Index. It was launched on Mar 3, 2005. DFEN.DE is a passively managed fund by VanEck that tracks the performance of the MarketVector Global Defense Industry. It was launched on Mar 31, 2023. Both XMMO and DFEN.DE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

XMMO vs. DFEN.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap Momentum ETF (XMMO) and VanEck Defense UCITS ETF A (DFEN.DE). The values are adjusted to include any dividend payments, if applicable.

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XMMO vs. DFEN.DE - Yearly Performance Comparison

2026 (YTD)202520242023
XMMO
Invesco S&P MidCap Momentum ETF		6.86%13.04%38.03%16.12%
DFEN.DE
VanEck Defense UCITS ETF A		12.80%70.20%43.28%9.83%
Different Trading Currencies

XMMO is traded in USD, while DFEN.DE is traded in EUR. To make them comparable, the DFEN.DE values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XMMO achieves a 6.86% return, which is significantly lower than DFEN.DE's 12.80% return.

XMMO

1D
1.85%
1M
-2.62%
YTD
6.86%
6M
9.51%
1Y
29.37%
3Y*
25.85%
5Y*
12.62%
10Y*
18.41%

DFEN.DE

1D
5.77%
1M
-3.73%
YTD
12.80%
6M
5.86%
1Y
55.19%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco S&P MidCap Momentum ETF

VanEck Defense UCITS ETF A

Often compared with XMMO:
XMMO vs. SPMOXMMO vs. XMHQXMMO vs. VOOXMMO vs. SPGPXMMO vs. MTUMXMMO vs. QMOMXMMO vs. RFV
Often compared with DFEN.DE:
DFEN.DE vs. DFNS.LDFEN.DE vs. DFND.ASDFEN.DE vs. ITADFEN.DE vs. PPADFEN.DE vs. ASWC.DEDFEN.DE vs. JEDG.LDFEN.DE vs. VGT

XMMO vs. DFEN.DE - Expense Ratio Comparison

XMMO has a 0.33% expense ratio, which is lower than DFEN.DE's 0.55% expense ratio.

DFEN.DE
VanEck Defense UCITS ETF A
XMMO
Invesco S&P MidCap Momentum ETF

Return for Risk

XMMO vs. DFEN.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XMMO
XMMO Risk / Return Rank: 7777
Overall Rank
XMMO Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
XMMO Sortino Ratio Rank: 7474
Sortino Ratio Rank
XMMO Omega Ratio Rank: 7070
Omega Ratio Rank
XMMO Calmar Ratio Rank: 8282
Calmar Ratio Rank
XMMO Martin Ratio Rank: 8989
Martin Ratio Rank
DFEN.DE
DFEN.DE Risk / Return Rank: 8181
Overall Rank
DFEN.DE Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
DFEN.DE Sortino Ratio Rank: 8585
Sortino Ratio Rank
DFEN.DE Omega Ratio Rank: 7676
Omega Ratio Rank
DFEN.DE Calmar Ratio Rank: 9090
Calmar Ratio Rank
DFEN.DE Martin Ratio Rank: 7373
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XMMO vs. DFEN.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap Momentum ETF (XMMO) and VanEck Defense UCITS ETF A (DFEN.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

XMMODFEN.DEDifference

Sharpe ratio

Return per unit of total volatility

1.34

2.02

-0.68

Sortino ratio

Return per unit of downside risk

1.91

2.70

-0.79

Omega ratio

Gain probability vs. loss probability

1.27

1.34

-0.07

Calmar ratio

Return relative to maximum drawdown

2.41

3.65

-1.24

Martin ratio

Return relative to average drawdown

11.42

9.84

+1.58

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMMO vs. DFEN.DE - Sharpe Ratio Comparison

The current XMMO Sharpe Ratio is 1.34, which is lower than the DFEN.DE Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of XMMO and DFEN.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

XMMODFEN.DEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.34

2.02

-0.68

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.60

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.83

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.55

2.20

-1.66

Correlation

The correlation between XMMO and DFEN.DE is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

XMMO vs. DFEN.DE - Dividend Comparison

XMMO's dividend yield for the trailing twelve months is around 0.70%, while DFEN.DE has not paid dividends to shareholders.

TTM20252024202320222021202020192018201720162015
XMMO
Invesco S&P MidCap Momentum ETF		0.70%0.78%0.34%0.80%1.43%0.41%0.61%0.60%0.19%0.21%0.22%0.64%
DFEN.DE
VanEck Defense UCITS ETF A		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

XMMO vs. DFEN.DE - Drawdown Comparison

The maximum XMMO drawdown since its inception was -55.37%, which is greater than DFEN.DE's maximum drawdown of -14.85%. Use the drawdown chart below to compare losses from any high point for XMMO and DFEN.DE.

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Drawdown Indicators

XMMODFEN.DEDifference

Max Drawdown

Largest peak-to-trough decline

-55.37%

-14.00%

-41.37%

Max Drawdown (1Y)

Largest decline over 1 year

-12.81%

-14.00%

+1.19%

Max Drawdown (5Y)

Largest decline over 5 years

-27.91%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-36.74%

—

—

Current Drawdown

Current decline from peak

-2.62%

-6.85%

+4.23%

Average Drawdown

Average peak-to-trough decline

-9.52%

-2.72%

-6.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.70%

5.65%

-2.95%

Volatility

XMMO vs. DFEN.DE - Volatility Comparison

The current volatility for Invesco S&P MidCap Momentum ETF (XMMO) is 9.04%, while VanEck Defense UCITS ETF A (DFEN.DE) has a volatility of 9.92%. This indicates that XMMO experiences smaller price fluctuations and is considered to be less risky than DFEN.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XMMODFEN.DEDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.04%

9.92%

-0.88%

Volatility (6M)

Calculated over the trailing 6-month period

14.39%

19.91%

-5.52%

Volatility (1Y)

Calculated over the trailing 1-year period

22.03%

27.19%

-5.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.27%

21.89%

-0.62%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.11%

21.89%

+0.22%